Spain: Current account swings to surplus in May
August 11, 2022
The current account recorded a EUR 2.9 billion surplus in May, improving from the EUR 0.5 billion deficit clocked in April (May 2021: EUR 1.0 billion surplus). Meanwhile, the 12-month trailing current account surplus deteriorated, coming in at EUR 8.3 billion in May (April: EUR 6.4 billion surplus).
According to the Bank of Spain, May’s result was driven by a higher trade surplus as well as a narrower deficit in primary and secondary incomes compared to the same period of 2021.